Bitcoin has ‘pretty much failed’ as a currency, Bank of England Governor Carney says

The Governor of the Bank of England mark Carney has expressed concern about the extreme fragility of world famous digital currency.

“Today he almost could not cope with … traditional aspects of money, this is a valuable place because it is located throughout the map and no one uses it as a medium of exchange”, Carney said, reports Reuters.

The Central banker made his comments during a conversation at Regent’s University, London, on Monday evening.

Bitcoin is the largest cryptocurrency by market value. This is reinforced by the network blockchain, which supports the growing number of transactions in a decentralized network.

In the bitcoin white paper, written by its mysterious inventor Satoshi Nakamoto, bitcoin was intended as a purely peer version of electronic cash, devoid of intermediaries, like banks and governments.

In the last 12 months bitcoin has grown substantially, increasing from more than 900 percent since February 20 of last year, despite the huge impact of the instability of prices. That’s still more than $ 8,000 from a new all-time high reached in December.

On Tuesday Venezuela will begin preliminary sale of cryptocurrency, petro, which, according to the government of the country will ensure that oil and other goods. Skeptics are concerned that Karaka can control the oil.

Elsewhere Sweden is considering creating a digital version of the Swedish crown, called “ekron”, as in the Scandinavian countries the use of cash in recent years has declined sharply.

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